By Ellen Hambuba / Mary Kachepa
Government has announced plans to conclude Zambia’s current International Monetary Fund –IMF-supported programme and promptly begin discussions on a new, longer-term arrangement aimed at supporting economic growth.
Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says Government will complete the sixth and final review of the Extended Credit Facility, which commenced in 2022, before engaging the IMF on a successor programme.
Dr. MUSOKOTWANE says Zambia has chosen not to extend the current programme by an additional year, opting instead to move to a new framework that better aligns with the country’s changing priorities, including growth, investment and job creation.
He explains that the move does not indicate a withdrawal from the IMF, but reflects the successful conclusion of the existing programme and Zambia’s readiness to advance to the next phase.
According to the IMF, Zambia’s economy is projected to grow by more than five percent in 2025, while inflation is expected to return to the six to eight percent target range within the next two years.
Dr. MUSOKOTWANE adds that reforms implemented under the programme have strengthened economic stability, improved resilience to shocks, supported debt restructuring efforts and positioned the country to benefit from favourable copper prices through a revitalised mining sector.
